Questions??

Do my heirs lose their interest in the home? No...they have the choice to either sell the home and pay off the mortgage, or they can keep it by simply refinancing the mortgage. Any remaining equity is theirs to keep of distribute as they wish...or as your will stipulates.

What if my spouse is younger than 62? An easy way to handle this is simply to have the spouse quitclaim their interest in the home over to the senior citizen. Consult with your attorney for more possible options.

Will this affect my Social Security benefits? The reverse equity mortgage should have no effect on social security, pensions or Medicare. However, if you receiv

In common language, it's the opposite of a traditional mortgage. Instead of you paying a mortgage payment to a mortgage company...the mortgage company makes the payment to you every month! The loan amount is based on the current equity in the home, which is the difference in the market value and any mortgage attached to the property. The loan is paid off when the home is sold.

You will not have to pay income taxes on the monthly payments made to you. This is tax-deferred income, as interest will only have to be paid when the home is sold or the loan is paid off.

No re-payment will be required as long as the senior citizen lives in the home. But, there are a couple of rules to remember. The loan will be due and payable in the event (1) the home is sold, (2) the homeowner moves out for longer than 12 months, or the homeowner dies. At that time, accrued interest must be paid in full.

This type of mortgage must be recorded as a first mortgage lien. And if the current loan balance is less than 50% of the market value, this balance can be incorporated into the reverse equity mortgage...which means that the senior citizen will possibly be relieved of their present house payment.

Who is Eligible for a Reverse Equity Mortgage?

The borrowers (or co-borrowers) must be at least 62 years old...with no current bankruptcy. The loan is on the home, so income or credit score doesn't matter. There is no personal liability for repayment of a reverse equity mortgage.

Homeowners Have a Choice in How They Receive the Money

The proceeds from this type of loan can be distributed in the following ways:

• Lifetime monthly income
• Lump sum for any purpose
• Credit line for future borrowing

  There are a few major reverse mortgage lenders and they all have different programs, but all will have the following criteria to determine how much cash the homeowner can obtain:

  • The adjustable interest rate at the time the mortgage is originated.
  • The age of the youngest homeowner
  • The market appraisal of the home
  • The lenders maximum loan limit

    If you want to compare the different plans for your personal situation, the information can be found at www.FinancialFreedom.com. Just enter your information and quickly know how much you could borrow. Then, if you decide that this type of mortgage is for you, go to www.reversemortgage.org for more information and the location of a reverse equity mortgage lender in your area.

    It is always best to compare the different plans...and be sure to consult with your attorney, financial or estate planner, accountant...as well as any adult children when considering this type of plan.

    Your home can truly be your "nest egg" in your senior years!

    Questions??

    Do my heirs lose their interest in the home? No...they have the choice to either sell the home and pay off the mortgage, or they can keep it by simply refinancing the mortgage. Any remaining equity is theirs to keep of distribute as they wish...or as your will stipulates.

    What if my spouse is younger than 62? An easy way to handle this is simply to have the spouse quitclaim their interest in the home over to the senior citizen. Consult with your attorney for more possible options.

    Will this affect my Social Security benefits? The reverse equity mortgage should have no effect on social security, pensions or Medicare. However, if you receiv

    First Things First - Conversion Before Traffic
    While some aspects of web marketing are beginning to shows signs of maturity, the interactive space is generally still in its infancy in terms of how to think about building audience and therefore generating revenue consistently.I advise several web start-ups and PE firms and almost everyone starts the conversation talking about traffic generation. Whether your revenue model is ad-driven or not, your sustained success depends on conversion of traffic into true customers, pe
    there are a couple of rules to remember. The loan will be due and payable in the event (1) the home is sold, (2) the homeowner moves out for longer than 12 months, or the homeowner dies. At that time, accrued interest must be paid in full.

    This type of mortgage must be recorded as a first mortgage lien. And if the current loan balance is less than 50% of the market value, this balance can be incorporated into the reverse equity mortgage...which means that the senior citizen will possibly be relieved of their present house payment.

    Who is Eligible for a Reverse Equity Mortgage?

    The borrowers (or co-borrowers) must be at least 62 years old...with no current bankruptcy. The loan is on the home, so income or credit score doesn't matter. There is no personal liability for repayment of a reverse equity mortgage.

    Homeowners Have a Choice in How They Receive the Money

    The proceeds from this type of loan can be distributed in the following ways:

    • Lifetime monthly income
    • Lump sum for any purpose
    • Credit line for future borrowing

      There are a few major reverse mortgage lenders and they all have different programs, but all will have the following criteria to determine how much cash the homeowner can obtain:

      • The adjustable interest rate at the time the mortgage is originated.
      • The age of the youngest homeowner
      • The market appraisal of the home
      • The lenders maximum loan limit

        If you want to compare the different plans for your personal situation, the information can be found at www.FinancialFreedom.com. Just enter your information and quickly know how much you could borrow. Then, if you decide that this type of mortgage is for you, go to www.reversemortgage.org for more information and the location of a reverse equity mortgage lender in your area.

        It is always best to compare the different plans...and be sure to consult with your attorney, financial or estate planner, accountant...as well as any adult children when considering this type of plan.

        Your home can truly be your "nest egg" in your senior years!

        Questions??

        Do my heirs lose their interest in the home? No...they have the choice to either sell the home and pay off the mortgage, or they can keep it by simply refinancing the mortgage. Any remaining equity is theirs to keep of distribute as they wish...or as your will stipulates.

        What if my spouse is younger than 62? An easy way to handle this is simply to have the spouse quitclaim their interest in the home over to the senior citizen. Consult with your attorney for more possible options.

        Will this affect my Social Security benefits? The reverse equity mortgage should have no effect on social security, pensions or Medicare. However, if you receiv

        Starting a Roofing Business - A Rewarding Opportunity For You?
        Roofers are some of the people I respect the most. Their jobs are very important, because if they do not do a good job putting a roof on your house, then you will have all sorts of problems. A roof helps to keep the heating and air conditioning inside the house, and also most importantly keeps the wind, rain, and snow outside of the house. Without a good roof, your investment in your house will be washed away in no time. (Pun intended) However if you have noticed, there are no
        the home, so income or credit score doesn't matter. There is no personal liability for repayment of a reverse equity mortgage.

        Homeowners Have a Choice in How They Receive the Money

        The proceeds from this type of loan can be distributed in the following ways:

        • Lifetime monthly income
        • Lump sum for any purpose
        • Credit line for future borrowing

          There are a few major reverse mortgage lenders and they all have different programs, but all will have the following criteria to determine how much cash the homeowner can obtain:

          • The adjustable interest rate at the time the mortgage is originated.
          • The age of the youngest homeowner
          • The market appraisal of the home
          • The lenders maximum loan limit

            If you want to compare the different plans for your personal situation, the information can be found at www.FinancialFreedom.com. Just enter your information and quickly know how much you could borrow. Then, if you decide that this type of mortgage is for you, go to www.reversemortgage.org for more information and the location of a reverse equity mortgage lender in your area.

            It is always best to compare the different plans...and be sure to consult with your attorney, financial or estate planner, accountant...as well as any adult children when considering this type of plan.

            Your home can truly be your "nest egg" in your senior years!

            Questions??

            Do my heirs lose their interest in the home? No...they have the choice to either sell the home and pay off the mortgage, or they can keep it by simply refinancing the mortgage. Any remaining equity is theirs to keep of distribute as they wish...or as your will stipulates.

            What if my spouse is younger than 62? An easy way to handle this is simply to have the spouse quitclaim their interest in the home over to the senior citizen. Consult with your attorney for more possible options.

            Will this affect my Social Security benefits? The reverse equity mortgage should have no effect on social security, pensions or Medicare. However, if you receiv

            Understanding a Stock's PEG Ratio
            A PEG ratio cannot be used alone but is a very powerful tool when integrated with the basics (price, volume and chart reading). You must enjoy crunching numbers and have a calculator handy to estimate your own PEG ratio. Access to quality statistical information from the web such as past earnings and future earning estimates is essential to calculate this fundamental indicator. A variety of websites produce a PEG ratio but I have not found one site that has a reliable PEG ratio
            isal of the home
          • The lenders maximum loan limit

            If you want to compare the different plans for your personal situation, the information can be found at www.FinancialFreedom.com. Just enter your information and quickly know how much you could borrow. Then, if you decide that this type of mortgage is for you, go to www.reversemortgage.org for more information and the location of a reverse equity mortgage lender in your area.

            It is always best to compare the different plans...and be sure to consult with your attorney, financial or estate planner, accountant...as well as any adult children when considering this type of plan.

            Your home can truly be your "nest egg" in your senior years!

            Questions??

            Do my heirs lose their interest in the home? No...they have the choice to either sell the home and pay off the mortgage, or they can keep it by simply refinancing the mortgage. Any remaining equity is theirs to keep of distribute as they wish...or as your will stipulates.

            What if my spouse is younger than 62? An easy way to handle this is simply to have the spouse quitclaim their interest in the home over to the senior citizen. Consult with your attorney for more possible options.

            Will this affect my Social Security benefits? The reverse equity mortgage should have no effect on social security, pensions or Medicare. However, if you receiv

            Choosing A Franchise Business
            Once you've determined that buying a franchise is the right choice for you, your next decision will be to decide exactly which service or product you want to invest in.And this decision had be harder than it seems. One of the biggest decisions a would-be entrepreneur has to make is choosing the right franchise system for them. After all, owning and operating a business is a large commitment–-in time, money, and energy-–and nobody wants to be stuck running a business that t
            s!

            Questions??

            Do my heirs lose their interest in the home? No...they have the choice to either sell the home and pay off the mortgage, or they can keep it by simply refinancing the mortgage. Any remaining equity is theirs to keep of distribute as they wish...or as your will stipulates.

            What if my spouse is younger than 62? An easy way to handle this is simply to have the spouse quitclaim their interest in the home over to the senior citizen. Consult with your attorney for more possible options.

            Will this affect my Social Security benefits? The reverse equity mortgage should have no effect on social security, pensions or Medicare. However, if you receive SSI or Medicaid welfare assistance, you should check with your local government authority before obtaining a reverse equity mortgage. You can check out www.eldercare.gov for more information.

            As always, please contact us with any questions. We look forward to hearing from you!